Allied Properties Real Estate Investment Trust T.AP.UN

Alternate Symbol(s): APYRF

Allied Properties Real Estate Investment Trust (Allied) is a Canada-based open-end real estate investment trust (REIT). Allied is an owner-operator of distinctive urban workspace in Canada's cities. Its business is providing knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied operates in seven urban markets in Canada, which includes Montreal, Ottawa, Toronto, Kitchener, Calgary, Edmonton and Vancouver. Its urban office properties are managed by geographic location consisting of approximately four groups of cities. Its subsidiaries include Allied Properties Management Trust, Allied Properties Management Limited Partnership, and Allied Properties Management GP Limited.

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Allied Properties Real Estate Investment Trust > Screaming Buy - Loss of sector interest

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Comment by EstevanOutsideron Jul 02, 2024 8:19pm

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Post# 36115523

RE:RE:RE:Screaming Buy - Loss of sector interest

allied debt ratio is "low" because they using artificially low cap rates.

allied did not move the cap rates like other reits so the nav is delusional.

if they normalize the cap rates relative to peers like dream office it wont look so good.

just my 2 cents.

MyHoneyPot wrote: I appreciate your comments but it seems to me that with the dividend yeild 11.7% they could easily cut but they don't need to because their payout rates are reasonable.

Also if you look at the debt maturity and their current cost of debt it is very reasonable.

My thinking is this, they are not feeling a compelling need to cut the dividends, and their debt ratio is really really low, likely the lowest among all the Reits. I think it around 35.9%, Interest coverage 2.6X.

I think they should opportunisticly gain some liquidity and buy back shares.

MHP

IMHO